A quote from Max Beerbohm:
“To say that a man is vain simply means that he is pleased with the effect he produces on other people. A conceited man is satisfied with the effect he produces on himself.”
A quick definition search of vanity on Google provided: feelings of excessive pride. I like Beerbohm’s separation of vain and conceited. While excess vanity could be harmful to one’s self, taking pride in the ability to add to other’s lives and perceptions is really the basic tenet of education.